{"id":1004705844,"date":"2024-03-11T02:33:07","date_gmt":"2024-03-11T10:33:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004705844"},"modified":"2024-03-11T03:11:08","modified_gmt":"2024-03-11T11:11:08","slug":"equus-grows-north-carolina-footprint-with-124m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/","title":{"rendered":"Equus Grows North Carolina Footprint With $124M Buy"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a139fa64aabd&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img decoding=\"async\" data-attachment-id=\"1004705851\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/a-fedex-leased-property-acquired-by-equus\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/A-FedEx-leased-property-acquired-by-Equus-e1710152816628.jpg\" data-orig-size=\"666,500\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"A-FedEx-leased-property-acquired-by-Equus\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/A-FedEx-leased-property-acquired-by-Equus-e1710152816628.jpg?w=666\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/A-FedEx-leased-property-acquired-by-Equus.jpg\" alt=\"\" class=\"wp-image-1004705851\" style=\"width:400px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">FedEx occupies one of the properties in the portfolio. <em>Image courtesy of Equus Capital Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Equus Capital Partners has added more than 1.4 million square feet to its North Carolina industrial footprint. The firm acquired a nine-building portfolio near Charlotte and Greensboro for $124 million through a sponsored value-add fund called Equus Investment Partnership XII LP.<\/p>\n\n\n\n<p>The seller was Investcorp, public records show. According to the same source, Equus financed the purchase with a three-year, $75 million loan from Franklin BSP Realty Trust.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-markets-for-industrial-transactions-4\/\">Top 5 Markets for Industrial Transactions<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The Charlotte properties total more than 1.2 million square feet across the Lincoln, Cleveland and Iredell County submarkets, while the Greensboro asset has 241,050 square feet and is centrally located in the Piedmont Triad market.<\/p>\n\n\n\n<p>The portfolio is made up of mostly single-tenant bulk distribution assets ranging from 38,480 to 382,668 square feet. At the time of sale, the facilities were fully leased to nine tenants, including FedEx, Lenovo and American Woodmark.<\/p>\n\n\n\n<p>Tim Feron, vice president of acquisitions at Equus, said in prepared remarks that the portfolio has an opportunity to increase net operating income and expand lease duration in the future. Feron also mentioned the properties also have more than 400,000 square feet of development and expansion potential.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-further-expanding-into-north-carolina\">Further expanding into North Carolina<\/h2>\n\n\n\n<p>In recent years, Equus has been steadily building up its portfolio of industrial properties in North Carolina. The firm&#8217;s footprint already includes the Raleigh Light Industrial Portfolio, which totals more than 2.6 million square feet. <\/p>\n\n\n\n<p>In February 2022, the firm acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-buys-industrial-portfolio-for-168m\/\">eight industrial properties<\/a> in Greensboro, N.C., through the same value-add fund. More recently, last June, Equus sold <a href=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-gets-33m-for-charlotte-area-asset\/\">Carolina 85 Logistics Center<\/a>, a speculatively built 300,468-square-foot warehouse\/distribution facility in Kings Mountain, N.C., for $32.9 million. <\/p>\n\n\n\n<p>Overall, the firm\u2019s U.S. portfolio totals more than 30 million square feet of owned and managed industrial assets. Equus also owns land for another 5 million square feet of industrial developments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FedEx is one of the tenants at the fully leased portfolio.<\/p>\n","protected":false},"author":883,"featured_media":1004705851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21748,21783,21742,32781],"tags":[33346],"class_list":["post-1004705844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-industrial","category-investment","category-latest","category-southeast","tag-equus-capital-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Equus Grows North Carolina Footprint With $124M Buy - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Equus Capital Partners has acquired a fully leased industrial portfolio in Charlotte, N.C., and Greensboro, N.C.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equus Grows North Carolina Footprint With $124M Buy\" \/>\n<meta property=\"og:description\" content=\"Equus Capital Partners has acquired a fully leased industrial portfolio in Charlotte, N.C., and Greensboro, N.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-11T10:33:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-11T11:11:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/A-FedEx-leased-property-acquired-by-Equus-e1710152816628.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"666\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/equus-grows-north-carolina-footprint-with-124m-buy\/\",\"name\":\"Equus Grows North Carolina Footprint With $124M Buy - 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